mrsanto
Long

EURUSD: NEW SETUP - ABCD or BULLISH BUTTERFLY ? -

FX:EURUSD   Euro Fx/U.S. Dollar
Past days price moved downward and i was waiting for EURUSD             to touch the bottom of the bullish channel but it failed.
Today the price finally made some moves UP.
Depending on today close i will follow this plan. I can see a potential ABCD pattern or a bullish butterfly developing with a lot of chances to enter good trades.
Let's wait for tomorrow.
this is a crab my friend. :)
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mrsanto PRO nezyrinfx
A classic crab should retrace XA leg (point B) at max 61.8 but maybe i'm missing something.
if i look at 4H it seems more like a butterfly but i can be completely wrong

snapshot


Actually i still prefer the AB CD pattern since it aligns well with my personal weekly and monthly analysis.
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nezyrinfx mrsanto
EURUSD Bullish Crab


here's mine from 6 days ago...C and D point of us would still be the same. cheers :)
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how can it be butterfly if your point B is at 61.8 fib? butterfly would need B point to reach 78.6
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mrsanto PRO nezyrinfx
Actually my point B is at 72.4
You're right, it's not a "perfect" butterfly but in my opinion h patterns are not always developing at golden fib ratio.
by the way the butterfly is just an hypothesis right now
+1 Reply
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